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The global silicone oil market stood at a value of around USD 4.69 billion in 2023. The market is further expected to grow at a CAGR of 7.0% in the forecast period of 2024-2032 to attain USD 8.57 billion by 2032.
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Based on type, modified silicone oil accounts for a significant share in the industry and is likely to witness a steady growth over the forecast period. This can be attributed to the greater stability and high spreading power of the product. Its properties, such as high-temperature non-toxic use at low surface tension and high lubricity, make it an excellent product for use in various industries, including automobile.
On the basis of application, the anti-foam segment is anticipated to account for a significant share in the market, owing to the growing demand for anti-foaming agents in various end use industries, including detergents, food, pulp and paper, oil drilling, machine tool, and pharmaceutical, among others. Meanwhile, the skin and hair care segment is likely to grow at a considerable rate, owing to the growing demand for personal care products, particularly in emerging economies of the world.
The silicone oil industry in the Asia Pacific is anticipated to witness a steady growth in the forecast period, owing to the rising standards of living in countries like India and China, along with the growing inclination of a significant portion of the population towards skin and hair care products. The market is expected to be aided by the thriving automotive industry in the region, which is one of the major end use sectors of silicone oil.
Silicone oil is defined as an oil that is comprised of linear repeating chains of silicon and oxygen. This type of polymer is of commercial interest because of its relatively high thermal stability and lubricating properties.
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Based on type, the market is divided into:
On the basis of application, the industry is segmented into:
Based on end use, the market is categorised into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The global silicone oil industry is driven by the growing demand for the product in various end use industries, such as automotive, personal care, electronics, construction, and medical, among others. For instance, in the personal care industry, silicone oil is used to prepare various products, including shampoos, hair care products, and others due to its conditioning benefits. Furthermore, owing to its versatility, biocompatibility, low surface tension, and high permeability, silicone oil is extensively used in the preparation of myriad homecare products. Over the forecast period, the steady growth of the medical sector is expected to significantly contribute to the market growth.
The report gives a detailed analysis of the following key players in the global silicone oil market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global silicone oil market attained a value of nearly USD 4.69 billion.
The market is estimated to witness a healthy growth at a CAGR of 7.0% in the forecast period of 2024-2032.
The market is being driven by the increasing demand for silicone oil in the automotive market, the growing demand for anti-foaming agents, and the rising use of silicone oil in the personal care sector.
The key trends of the market include the robust growth of the medical sector, the increasing end-uses of silicone oil, and the growing utilisation of silicone oil in the preparation of homecare products.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Straight and modified are the leading types of silicone oil.
Anti-foam agent, chemical intermediate, release agent, sealant, and skin and hair care, among others, are the different applications of silicone oil.
Automotive, chemical, construction, electronics, medical, personal care, and textile, among others, are the significant end uses of silicone oil.
The key players in the global silicone oil market are Wacker Chemie AG, Evonik Industries AG, and Shin-Etsu Chemical CO. LTD., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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